Tejas Networks shares jump 4% on Rs 123 crore PLI incentive for FY24

Shares of Tejas Networks rose by 4 per cent on Monday after receiving an incentive under the Production Linked Incentive (PLI) scheme, worth Rs 123.45 crore, for the financial year 2023-24.

Tejas Networks’ counter rose as much as 4.1 per cent during the market opening to Rs 686.8 per share, the biggest intraday rise since February 20 this year. The stock pared gains to trade 3.7 per cent lower at Rs 884.3 apiece, compared to a 0.65 per cent gain in Nifty 50 as of 9:37 AM.